In a rather unusual case of in-house counsel embracing new agency guidance, top legal and compliance chiefs at companies with robo-adviser offerings seem to agree that the U.S. Securities and Exchange Commission’s new guidelines for robo-advisers further legitimize their industry.
The commission issued guidance for automated investment advisers, better known as robo-advisers, on Feb. 23. The 15-page guidance solidified robo-advisers’ fiduciary obligations and set ground rules for disclosures, suitability and compliance programs for companies that operate algorithm-based wealth management services rather than using human financial planners exclusively or at all.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
